Cassava Sciences Inc. (NASDAQ:SAVA) does about 1.25M shares in volume on a normal day but saw 2160334 shares change hands in Monday trading. The company now has a market cap of 1.44B USD. Its current market price is $36.44, marking an increase of 4.59% compared to the previous close of $34.84. The 52 week high reached by this stock is $62.49 whilst the lowest price level in 52 weeks is $13.84. The script in recent trading has seen the stock touch a high of $38.53 and a low of $34.50.
Cassava Sciences Inc. (SAVA) has a 20-day trading average at $31.60 and the current price is -41.69% off the 52-week high compared with 163.29% distance from its 52-week low. The 50-day simple moving average of the closing price is $34.67 and its 200-day simple moving average is $29.52. If we look at the stock’s price movements over the week, volatility stands at 7.81%, which increases to 10.14% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 57.86 to suggest the stock is neutral.
3 analysts observing the Cassava Sciences Inc. (SAVA) stock have set the 12-month price targets for the company’s shares at between $44.00 and $124.00. The consensus objective for the share price is $89.33, suggesting that the stock has a potential upside of 59.21% over the period. The median price target is 63.56% away from the current levels at $100.00.
FactSet Research has provided data showing that 3 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 2 analysts have rated it as a buy and 1 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on November 16, 2022 when B. Riley Securities downgraded the stock to “Neutral” and issued a price target of $44. Cantor Fitzgerald also downgraded the stock to “Neutral” from Overweight on July 15, 2021 at a price target of $100. Maxim Group reiterated its price target at $80-$190.
The current price level is 15.22%, 5.21%, and 23.57% away from its SMA20, SMA50, and SMA200 respectively, with the SAVA price moving above the 50-day SMA on January 23. Cassava Sciences Inc. (SAVA) stock is up 7.18% over the week and -3.42% over the past month. Its price is 23.36% year-to-date and -2.59% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of -$0.51 below consensus estimates by -$0.03. The company’s next earnings report is expected on 05/10/2023, with forecasts estimating quarterly EPS at -$0.56 and -$1.99 for whole year. SAVA’s earnings per share are forecast to shrink by -142.70% this year and 25.60% over next year.
Its 12-month price target is $100.00. To reach the target analysts have set, the stock logically needs to grow 59.21 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $44.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $124.00.
Outstanding shares total 40.05M with insiders holding 5.47% of the shares and institutional holders owning 27.01% of the company’s common stock. The company has a return on equity of -31.40%. The beta has a value of -0.02. Price to book ratio is 7.35.
According to a U.S. Securities and Exchange Commission filing, Vanguard Total Stock Market Index has added its position in Cassava Sciences Inc. (SAVA) to 1,233,334 shares, mirroring a recent increase by 6.56%. Vanguard Total Stock Market Index added 75874.0 shares of Cassava Sciences Inc. common stock bringing its total worth to about $36.43 million at the end of recent close, SEC documents show. Vanguard Total Stock Market Index isn’t the only investment manager who changed stakes and is followed by iShares Russell 2000 ETF, which sold off 8906.0 shares to end up with 851,245 shares worth $25.15 million. Vanguard Extended Market Index Fu raise their holdings by 0.05% in the company over the course of the most recent quarter. It now holds a 1.23% position in Cassava Sciences Inc. thanks to 0.51 million shares amounting to $15.19 million.